Denver PWM LLC Buys 289 Shares of Etsy, Inc. (NASDAQ:ETSY)

Denver PWM LLC lifted its stake in Etsy, Inc. (NASDAQ:ETSY) by 36.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,090 shares of the specialty retailer’s stock after buying an additional 289 shares during the period. Denver PWM LLC’s holdings in Etsy were worth $58,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Etsy by 106.5% in the third quarter. Blue Trust Inc. now owns 448 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 231 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Etsy in the fourth quarter valued at about $38,000. Capital Performance Advisors LLP acquired a new position in Etsy in the third quarter worth about $43,000. Versant Capital Management Inc raised its position in Etsy by 153.1% in the fourth quarter. Versant Capital Management Inc now owns 825 shares of the specialty retailer’s stock worth $44,000 after purchasing an additional 499 shares in the last quarter. Finally, Prospera Private Wealth LLC acquired a new position in Etsy in the third quarter worth about $59,000. Institutional investors own 99.53% of the company’s stock.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 1,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $55.34, for a total transaction of $83,010.00. Following the sale, the insider now directly owns 22,198 shares in the company, valued at $1,228,437.32. This trade represents a 6.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

Etsy Stock Down 0.3 %

Shares of NASDAQ ETSY opened at $51.26 on Friday. The company’s fifty day moving average is $54.43 and its 200-day moving average is $53.78. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.57 and a beta of 2.00. Etsy, Inc. has a twelve month low of $47.10 and a twelve month high of $74.82.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, February 19th. The specialty retailer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $852.16 million for the quarter, compared to analysts’ expectations of $861.37 million. Etsy had a net margin of 10.80% and a negative return on equity of 46.62%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. On average, research analysts anticipate that Etsy, Inc. will post 2.57 EPS for the current fiscal year.

Etsy announced that its Board of Directors has approved a share repurchase program on Wednesday, October 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the specialty retailer to purchase up to 17.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of Etsy from $105.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company increased their price target on shares of Etsy from $44.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday. Morgan Stanley dropped their price target on shares of Etsy from $45.00 to $44.00 and set an “underweight” rating for the company in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Etsy in a research report on Thursday. Finally, Truist Financial dropped their price objective on shares of Etsy from $70.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Etsy has a consensus rating of “Hold” and an average target price of $58.78.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.